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WAEC Financial Accounting 2017 Question 13

Question 13

Double Entry and the Ledger

Which of the following accounts are found in the nominal ledger? I. Advertising II. Motor repairs III. Additions to motor vehicle

  1. A.I and II only.
  2. B.I and III only.
  3. C.II and III only.
  4. D.I, II and III.
Show the answer and explanation

Answer: A (I and II only.)

Explanation

Advertising and motor repairs are expenses (nominal); additions to motor vehicles are an asset (real account).